The curve edged higher on the smidgen of reduced negative commentary from the FOMC statement, and the commentary from Chair Powell subsequently copper-fastened the market notion that rate cuts are off the agenda, at least for now. This week, the 10yr yield edged up from the 4.2% area on Monday to 4.25% post the FOMC (and is higher today, pre and post the FOMC). It’s been quite the week for dollar products, given the FX intervention talk out of Japan, and then the dollar weakness push from President Trump. Add that vulnerability to a Fed that’s standing pat on less macro negatives, likely facilitates an upside test ... (full story)